In Strapped Spain, Buyers Are the Hot Item

With the economic pain in Spain widespread, some foreign patrons of Madrid's big international art fair are seeing an opportunity. And that's just how ARCOMadrid wants it.

"We're very aware of the difficult moment the Spanish economy is in, so we're trying to compensate with foreign buyers," said ARCO director Carlos Urroz. So organizers are trying to lure a rich international crowd to the event. This year, for the first time, the fair is paying for 150 VIPs to attend from the U.S., Asia, Russia and elsewhere,...